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AUGUST 2026 • Vol. 25 • No.8 • $10 Global Gaming Business Magazine U.S. iCASINO PROSPECTS AI IN CASINO MARKETING RED WAGON’S PAUL SPEIRS-HERNANDEZ Boardwalk Bounceback KENYA’S NEW DAY Pennsylvania Law One-Stop SportsAUGUST 2026 32 Super Sports As the regulated industry continues to grapple with growing competition from prediction markets, DraftKings’ “Super App” includes a prediction market exchange. By Matt Rybaltowski 38 AI in Marketing Artificial intelligence is giving casino marketing departments a new and powerful tool that puts together small changes in spending or amenity choices into an actionable plan that increases customer loyalty. By Sarah Procopio Global Gaming Business Magazine CONTENTS august COLUMNS 10 AGA Honoring Gaming’s Leaders Maureen Beddis 12 Fantini’s Finance The Bull, the Bear and the Bubble Frank Fantini DEPARTMENTS 4 The Agenda 6 By the Numbers 8 5 Questions 13 AGEM Update 36 Emerging Leaders With the Arizona Lottery’s May Mgbolu and Executive Gaming and Risk Advisory’s Jessica Maier 42 New Game Review 44 Cutting Edge 45 Frankly Speaking 46 Goods & Services 49 People 50 Casino Communications With Paul Speirs-Hernandez, Founder, Steinbeck Communications and Red Wagon Institute FEATURES Vol. 25 • No. 8 22 COVER STORY 14 In PA, ‘Skill Games’ Equal Slots In what’s been called a victory for consumers and taxpayers, the Pennsylvania Supreme Court has ruled that skill games are the equivalent of slots and subject to the same regulations. By Frank Legato 18 iCasino: Stalled in the States Online sports betting and online casino games have followed very different paths to legalization in the U.S. In 2026, why have so few states OK’d iCasino legislation? By Brendan D. Bussmann 28 Kenya Rebounds After years of volatility and turbulence, the casino market in Kenya is rebounding, and drawing new interest from operators and investors. By Kyle Goldsmith 30 Last Chance for Atlantic City? With Resorts World New York now open in Queens and two more NYC casinos on the way, Atlantic City scrambles to hone its competitive edge. By Roger Gros4 Global Gaming Business AUGUST 2026 I t gets lonely out here, battling illegal gambling. So we have to savor some of the sweet victories as they happen. The decision in Pennsylvania that so- called “skill games” should be regulated, taxed and treated just like casino slot machines is certainly rewarding. Let’s not forget that while these devices were nice little profit centers for the corner store, gas station and fraternal organization, they contributed nothing to the state, allowed illegal game manufacturers to profit, and exposed children and problem gamblers to activities they should not be doing. Frank Legato gives us a recap of the Pennsylvania decision and its implications in his feature on Page 14. But for now let’s just revel in the win. We all know who benefits from the “black” market in gaming. It’s companies that participate in gambling enterprises in areas where gambling is illegal by statute. “White” markets require companies to be licensed, regulated and taxed, so the differences are, well… black and white. “Gray” markets are a bit different. Skill games probably fall into that category. They might not be illegal by clearly written laws, but what they offer is gambling, without a doubt. Same goes for sweepstakes casinos, which carefully threaded legal loopholes where laws did not specifically prohibit them. But now that more than 20 states have banned sweepstakes casinos, it’s more clear and gives us cause to celebrate those victories. On the supplier side, it’s a much more nuanced issue. Suppliers provide the technology that runs the “gray” and “black” market operations but claim to have no role in illegal operations. Some even say they have no knowledge of how their products are being used. Right. Definitely a murky gray area. As for illegal prediction market companies, there are plenty of recent court decisions we can celebrate because most of the time, jurists have common sense. They know gambling when they see it, even though it’s thinly disguised as “trading.” And when it comes to the “black” designation, yes, prediction markets wear this mark, because they’re definitely violating state laws in all 50 states and U.S. territories. We first noticed prediction markets a couple of years ago, when they started to take bets on sports. We were outraged because sports betting and all gambling has always fallen under the purview of the states. So when a quasi-federal agency known as the Commodity Futures Trading Commission (CFTC) contends that its rules trump state laws (no pun intended), it’s laughable. The original CFTC regulations ban activity in “gaming,” but the Trump administration is attempting to change the rules of the road to allow sports betting and even casino betting. Prediction markets have come under fire as well for offering “trading” on war! One member of the military was indicted for using “insider” information when the U.S. took out Venezuelan President Victor Maduro. Prediction companies also were embroiled in controversy when they refused to pay out on the death of the Iranian ayatollah. Betting on death is different from taking part in the once-popular “dead pools.” It is dark and despicable. their candidates and therefore stand to profit. So while we are mostly opposed to sports betting by prediction markets, the ethics of many of their other “trading” options are so outlandish, we hope that Congress shuts them down too. And what will they have left when sports betting, war and election betting are banned? Probably what they were intended to be—hedges for or against the prices of stocks going up or down. Some say the prediction market is now too big to fail. Some say go along to get along. No, that’s not the way. Let’s get the Kalshis and Polymarkets of the world out of sports, war and election betting. The world will be a better place, and the legal and regulated gaming industry can get back to doing what it does best, serving its customers. Then we can really celebrate. I Fought the Law Vol. 25 • No. 8 • AUGUST 2026 Frank Legato, Editor-in-Chief flegato@ggbmagazine.com Robin Harrison, Publisher robin.harrison-millan@worldgamingbusiness.com Roger Gros, Editor-at-Large rgros@ggbmagazine.com Marjorie Preston, Managing Editor mpreston@ggbmagazine.com Monica Cooley, Art Director mcooley@ggbmagazine.com Terri Brady, Sales & Marketing Director tbrady@ggbmagazine.com Columnists Maureen Beddis • Frank Fantini Contributing Editors Rae Berkley • Brendan D. Bussmann • Kyle Goldsmith Matt Rybaltowski • Sarah Procopio • Mike Vanaskie _____ EDITORIAL ADVISORY BOARD Rino Armeni, President, Armeni Enterprises • Dike Bacon, Principal/Partner, HBG Design • Lauren Bates, President, Global Gaming Women • Mark A. Birtha, Senior Vice President & General Manager, Hard Rock International • Brendan Bussmann, Principal, BGlobal Advisors • Alex Dixon, Senior Advisor, Board of Directors, Resorts World Las Vegas • Daron Dorsey, President and CEO, Association of Gaming Equipment Manufacturers • Sally Gainsbury, Director at Gambling Treatment & Research Clinic & Professor of Psychology, University of Sydney • Stephen Martino, Vice President & Chief Compliance Officer, MGM Resorts International • Bill Miller, President and CEO, American Gaming Association • Walt Power, CEO, Grand Ho Tram • Rob Russell, Senior Gaming Analyst, Regulatory Management Counselors PC • James Siva, Chairman, California Nations Indian Gaming Association/ Vice Chairman, Morongo Band of Mission Indians • Michael Soll, President, International Center for Responsible Gaming • Kresimir Spajic, CEO, Allwyn Digital • Katherine Spilde, Executive Director, Sycuan Institute on Tribal Gaming, San Diego State University —————— GGB Magazine 702-248-1565 • www.ggbmagazine.com The views and opinions expressed by the writers and columnists of GLOBAL GAMING BUSINESS are not necessarily the views of the publisher or editor. Copyright 2026 Clarion Digital Media LLC GLOBAL GAMING BUSINESS is published monthly by Clarion Gaming International, LLC. Printed in Nevada, USA. Email: subscriptions@ggbmagazine.com Official Publication BY ROGER GROS, EDITOR-AT-LARGE THE AGENDA6 Global Gaming Business AUGUST 2026 A new survey says more than one in five U.S. gamblers—an estimated 56.2 million adults—admit they “always or often lie” to partners, family members or friends about how much they’ve lost. Research commissioned by VIP Grinders contends: • Men lie 42 percent more than women • Adults aged 25 to 34 lie most frequently about their losses (34.6 percent) • 7.6 percent of gamblers, or about 20.2 million Americans, always lie when they lose The research also found a correlation between gambling lies and searches for terms related to divorce, such as “how to get divorced” and “divorce lawyer near me.” Here are the Top 10 states for “debtception,” in which debt and deception become intertwined. The research was conducted by Censuswide, based on a sample of 2,000 U.S. adults who have gambled. BY THE NUMBERS SURVEY: ONE-FIFTH OF U.S. GAMBLERS LIE ABOUT LOSSES I n June, at the height of World Cup fervor, brand protection firm Corsearch warned against “tournament-driven impersonation,” in which fraudulent operators mimic trusted brands to lure unwitting bettors. According to the data, in June 2025, enforcement actions against betting-related phishing scams surged by 118 percent month-on-month. While enforcement was effective on social media, a “dark sector” of phishing and fake domains was more resilient, leveraging regulated brand identities to funnel users to the black market. Per the data: • Brand hijacking: 58 percent of all brand infringements identified by Corsearch concerning 12 major international online betting and gaming operators in 2025 were trademark-related, followed by copyright infringement at 29 percent • Social media manipulation: Social media platforms saw the greatest enforcement activity, accounting for 51 percent and a takedown success rate of 94 percent • App store integrity: 162 fraudulent betting and iGaming apps were identified and disrupted with an 86 percent success rate “The 118 percent spike we saw last year shows how quickly fraudsters exploit major sporting moments to impersonate trusted betting brands to mislead consumers,” said Simon Baggs, Corsearch executive chairman of brand and content protection. He recommended a proactive approach that combines “AI-driven detection with human expertise to identify and disrupt abuse earlier, protecting both brand reputation and player trust.” BET-RELATED PHISHING SPIKES DURING SUMMER SPORTS SEASON8 Global Gaming Business AUGUST 2026 B uddy Frank is one of the industry’s most sought-after slot consultants. He is prin- cipal and CEO of BF Slot Strategies, a consultancy he formed following a distinguished 35-year career in slot operations, from several Northern Nevada properties to California, where he retired after nearly nine years as VP of slot op- erations at Pechanga Resort and Casino. Frank was inducted into the EKG Slot Awards Hall of Fame in 2023. He spoke with GGB Editor-in-Chief Frank Legato on the current state of the slot sector from his office in Reno in June. To hear a full podcast of this far-reaching interview, visit GGBMagazine.com. GGB: You retired from your executive position at Pechanga nearly 10 years ago. What is the most significant change o slot floors since hen? Buddy Frank: One of the biggest was the change in lease or premium games. When I left, it was rare for anyone to have 8 percent of their floor as leased games, and pretty much every CEO in the country, along with all slot directors, hated participation machines. The only reason we kept Wheel of Fortune is all the customers wanted it. That has changed dramatically now. The average now across the country is 15 percent. And the only reason that happened is because the machines are just really good, and customers love them. Do you feel there’s been a general tightening of slot floors—lowering he overall return to player? What has led to that? In a word, greed. Early in my career, the dollar slot machine was king, and pretty much across the industry, the (hold) percentages were 3, 4, maybe 5 percent in the dollar slots. As denominations lowered down to the nickels and quarters, that ad- vanced to maybe 6 percent or 7 percent. But then pennies came along and everybody went, “Oh, pennies—in that same model, they should be a lit- tle bit tighter.” Suddenly, the wagers were $15 but the odds still stayed tight. And of course, corporate CFOs love that—more money in the bank. 5 QUESTIONS “No sports betting loss should embolden a sports betting customer to threaten or harass an athlete online.” —Matt King, CEO, Fanatics Sportsbook, on the Bad Actor Program, created to identify and penalize bettors who attack athletes on social media Buddy Frank Principal and CEO, BF Slot Strategies 1 2 3 4 5 You’ve been vocal in disagreeing with recent university studies that claim players don’t notice when payback percentages are tightened. Can you comment on that? (UNLV Professor) Anthony Lucas is sort of my nemesis on this issue. I really respect him as a researcher, but he did a study that says you can tighten your slots and it’s imperceptible to the play- er. Well, I’ll agree that you or I or any individual playing the slot can’t detect the change (at first). But when something decreases your time on device and costs you more money, it’s going to add up some- day. And I think it’s been negative for our industry. You’ve been a champion of low-hold video poker, which has disappeared from many casinos. Why has this happened, and why do you advocate offering full-pay video poker? Do you remember that word I mentioned earlier, greed? I think that’s the problem with video poker. Video poker is a great game. Let’s say the industry average (house hold) on your video poker is 3-4 percent compared to the slots that are 6, 7, or 8 or 9. It’s still a good bargain. But the CFO looks at it and says, why don’t I put in more Buffaloes because they’re going to hold 7 or 8 percent? The problem is the video poker player wants to play video poker because he enjoys it. There’s a small skill element in there. Great time on device. If you don’t have video poker, they’ll go play someplace else. What are the most important developments that will ensure a healthy slot sector in the future? One is something I was really encouraged to see. In Vegas in the old days, I’d do surveys and the average age was 50, slightly more women than men… Something happened with Covid. It forced young people to discover that casinos are fun and there are human beings there instead of just AI bots. So, for the first time ever, our average age is drifting down to 45 or so. I think we have to be conscious of that and make sure we don’t portray ourselves in the old models. Sept. 1-3: SiGMA North America, Mexico City. Produced by SiGMA Group. For more information, visit sigma.world/summits. Sept. 8-9: Gaming & Technology Expo, Puerto Rico Convention Center, San Juan. Produced by GAT Events. For more information, visit gatevents.net. Sept. 15-17: BSA/AML Gaming Conference, Planet Hollywood, Las Vegas. Produced by BSA- AML Compliance Group. For more information, visit bsaamlgamingconference.com. Sept. 20-24: TribalNet Conference & Tradeshow, Hilton Anatole, Dallas, Texas. Produced by TribalHub. For more information, visit tribalhub.com/events/. Sept. 21-24: NASPL Annual Conference, Caribe Royale Orlando, Florida. Produced by the North American Association of State and Provincial Lotteries. For more information, visit naspl.org/ events. Sept. 23-25: IMGL 2026 Autumn Conference, Pullman Paris Tour Eiffel, France. Produced by International Masters of Gaming Law. For more information, visit imgl.org/events. Sept. 23-25: SPiCE Central Asia 2026, Yerevan, Armenia. Produced by Eventus International. For more information, visit spiceseries.com. Sept. 28-Oct. 1: Global Gaming Expo (G2E), Venetian Expo, Las Vegas. Produced by RX and the American Gaming Association. For more information, visit globalgamingexpo.com. Sept. 29-Oct. 1: SBC Summit 2026, Feira Inter- nacional de Lisboa, Lisbon, Portugal. Produced by SBC. For more information, visit sbcevents.com. Oct. 1: Gaming & Technology Expo, Grand Hyatt Bogotá, Colombia. Produced by GAT Events. For more information, visit gatevents.net.Next >